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[Grapevine] For 24 Apr, 2003



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
HC awards Rs 170 million compensation to Uphaar fire victims
Sinha likely to be J and K Governor
"BJP betrayed Hindus," says Singhal
Centre-State Jt Action Committee to be set up to tackle SARS
CIA says Pakistan continues to support terror groups in J-K
India not to downgrade diplomatic ties with Iraq
Mumbai 25th in global 'city risk' list
Disinvestment rocks Lok Sabha; Congress storms well
GoM meet on natural gas pricing next month: Naik
Trucks back on roads, operations normal
Cell cos fear erosion of base if new STD rates not implemented
Court directs BCCI to consider Jadeja for Ranji selection
Tendulkar turns 30 today
Star studded teams in a high-profile semi-final


Markets:
Sensex: 2937.23, -10.10




Forex, Metals and Weather below

News
HC awards Rs 170 million compensation to Uphaar fire victims
New Delhi,Thursday, April 24, 2003: In a landmark judgement, the Delhi High Court today awarded a compensation of over Rs 170 million to the kin of those killed and the injured in the Uphaar fire tragedy which claimed 59 lives here on June 13, 1997 during the screening of Hindi blockbuster "Border".

A Bench comprising Justice S K Mahajan and Justice Mukul Mudgal held the owners of the theatre - Ansal Properties and Clubotel Ltd, MCD, DVB and Licencing Authorities of Delhi Police negiligent in maintaining public safety standard.

The court directed that Rs 1.8 million each be paid to the relatives of the deceased who were above the age of 20 years and Rs 1.5 million each to those below 20 years at the time of the tragedy.

A compensation of Rs 100,000 each was awarded for the 104 injured persons.

Since the theatre was the major beneficiary of the illegal constructions and arrangements in the premises, the court said 55 per cent of the compensation would be borne by its owners while the rest 45 per cent by the civic and licensing authorities.

Finding that the theatre owners earned illegal profit of Rs 25 million from the extra seats at the balcony during 1979-96, the court directed that the amount would go for the setting up of a Central Accident Trauma Service in the city.

While fixing the compensation to be paid along with 9 per cent interest from the date of filing of the suit, the Court directed that the amount be paid to the victims within two months. It also restrained the Ansals from selling the theatre till the compensation was paid.


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Sinha likely to be J and K Governor
Jammu,Thursday, April 24, 2003: Former Assam Governor Lt Gen (Retd) S K Sinha is likely to be appointed Jammu and Kashmir's New Governor succeeding Girish Chander Saxena.

Chief Minister Mufti Mohammad Sayeed has given his consent to the appointment of Sinha who is expected to be sworn in as J and K Governor on May one, official sources said here today.

Saxena's term in office expires on May two but he is understood to have asked that he be relieved on April 30.


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"BJP betrayed Hindus," says Singhal
Thiruvananthapuram,Thursday, April 24, 2003: VHP working president Ashok Singhal today said BJP had "betrayed" the Hindus on the issue of Ram temple construction after they assumed power.

"We have been betrayed. We never expected this from them. But history teaches us that those who have betrayed Hindus have paid their price," he said, addressing a meet-the-press programme here.

Defending distribution of tridents in Rajasthan, he said it was purely a religious work."We are not against anyone. If RJD leader Laloo Prasad Yadav can distribute lathis and others talwars, why can't Hindus distribute tridents symbolically," he asked.

Stating that `jehadis' were now ruling the roost in the country, he said secularists, who were "trying to eradicate India's great civilisation posed the biggest threat to the country."

"Secularism has come to mean anti-Hinduism. They are in fact destroying Hinduism," he said.

He said the Ram Janmabhoomi issue was entangled in court cases for the last 15 years. However, temple construction at Ayodhya would go on as planned by the VHP.

The `dharma samsad' of VHP would be held on April 29 and 30 to decide their future course of action.

He said conversion activity was "rampant" in Kerala. "You can profess or propagate a religion but have no right to convert. It is anti-constitutional," he said.


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Centre-State Jt Action Committee to be set up to tackle SARS
New Delhi,Thursday, April 24, 2003: Alarmed over the SARS disease, the Union Health Ministry today directed compulsory screening of international air passengers, wearing of masks by airport officials and decided to set up a Centre-State Joint Action Group to tackle the disease.

Briefing newspersons after a high-level inter-ministerial meeting and discussions with state Health Secretaries, Health Minister Sushma Swaraj said that strict instructions have been given to the airport authorities to screen each and every passenger for suspected SARS symptoms.

"I am happy to note that all states are geared up and they are taking the disease with seriousness it deserves," Swaraj said.


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CIA says Pakistan continues to support terror groups in J-K
Washington,Thursday, April 24, 2003: A warning by the CIA that Pakistan continues to support terrorist groups in Jammu and Kashmir and that the cycles of tension between India and Pakistan are growing shorter forms the backdrop of the forthcoming visit of US Deputy Secretary of State Richard Armitage to India and Pakistan.

"Pakistan continues to support groups that resist India's presence in Kashmir in an effort to bring India to the negotiating table," CIA Director George Tenet said in a recent speech before the Senate Intelligence Committee now on the CIA web.

He said even though India's recent military redeployment away from the border reduced the danger of imminent war, the underlying cause of tension is unchanged. "The cycles of tension between India and Pakistan are growing sorter."

"Indian frustration with continued terrorist attacks, most of which it attributes to Pakistan, causes New Delhi to reject any suggestion that it resume a dialogue with Islamabad," Tenet said.

Without progress on resolving Indo-Pakistan differences, said Tenet, "any dramatic provocation--like 2001's terrorist attack on the Indian Parliament by Kashmir militants--runs a high risk of sparking another major military deployment." Armitage is expected to visit India and Pakistan shortly.


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India not to downgrade diplomatic ties with Iraq
Dubai,Thursday, April 24, 2003: India has ruled out downgrading diplomatic ties with post-Saddam Hussein Iraq and said Indian companies have "good prospects" in taking part in reconstruction of the war-ravaged country.

"There is no question of downgrading diplomatic relations with Iraq and our traditionally good relations with that country will continue," R M Abhyankar, Secretary, Ministry of External Affairs, told PTI on phone from Damascus, in the midst of his tour of three neighbouring countries of Iraq. "We have considerable interests in Iraq which have to be taken care of," he said.

Abhyankar said 50,000 tonnes of wheat, which is part of the humanitarian aid from India, would reach Iraq soon. "Shipment of wheat and medical supplies for Iraq will begin within four weeks," he added.

India has announced a twenty million dollar assistance to Iraq where it was working out joint ventures in hydrocarbon and railways sectors under the auspices of the joint commissions during Saddam regime.

Abhyankar, whose trip to Jordan, Syria and Turkey is aimed at assessing the post-war political and economic scenario in Iraq, said "it remains to be seen whether such forums as joint commissions will be revived by a new Iraqi government.

He said Indian companies do have "good prospects" in the rebuilding of Iraq considering their vast experience in that country.


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Mumbai 25th in global 'city risk' list
Bombs may have rained on Baghdad like on no city before, but the Iraqi capital still ranks among the least risky in terms of potential loss, according to the global insurance risk index.

Tokyo has the world's highest concentration of insured risks and is perceived to be the most hazardous and exposed city in insurance parlance, and carries a risk weightage of 710.

In stark contrast, India's financial hub - Mumbai - measures just 5.1 on the total risk scale, ranking 25th. Delhi measures 1.5 and ranks 45th among the top 50 global cities on the risk scale.

Global reinsurer Munich Re has devised the risk potential list of the world's 50 largest metropolitan cities.

This megacities index helps measure the exposure of large agglomerations to natural hazards, as it looks into the vulnerability of the region and concentration of values.

Unlike developed countries, India remains more or less immune to global hardening in insurance premium rates primarily as it features low on the global risk index.

Mumbai's total risk index at 5.1 is less than one per cent of that of Tokyo and three per cent of San Francisco, measuring 167 on the index.

Compared with its south eastern counterparts, Mumbai is just about 12 per cent of Hong Kong's index rating of 41, while Delhi measures just 3.65 per cent of the risk index of the SARS-infected country.


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Disinvestment rocks Lok Sabha; Congress storms well
New Delhi,Thursday, April 24, 2003: The controversial issue of disinvestment in HPCL and BPCL rocked the Lok Sabha today forcing its abrupt adjournment for the day as a determined Opposition stalled proceedings charging the Government with starting the process of sell off in the oil majors without taking Parliament into confidence.

Agitated Congress members stormed the well of the house shouting slogans "desh ko bechna bandh karo" (stop sale of country) forcing Speaker Manohar Joshi to adjourn the House for the day.

As the house re-assembled in the post-lunch session, Congress Chief Whip Priya Ranjan Dasmunsi again raised the issue seeking a categorical assurance from the Government that it would not disinvest in the oil majors.

He said the Opposition would not cooperate till such an assurance was given.

He contended that over 300 members except those from the BJP were opposed to the disinvestment in HPCL and BPCL, and it would be an insult to Parliament if Government failed to act in tune with the spirit of the house.

Parliamentary Affairs Minister Sushma Swaraj's contention that the Government has no objection for a discussion on the issue and was even ready to advance the debate slated for May eight failed to pacify the agitated Opposition.


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GoM meet on natural gas pricing next month: Naik
New Delhi,Thursday, April 24, 2003: A meeting of the Group of Ministers (GoM) on freeing natural gas pricing from government control would be held next month, Petroleum Minister Ram Naik said in Lok Sabha today.

Final decision on gas pricing would be taken by the government after considering recommendations of the GoM headed by Deputy Chairman of Planning Commission K C Pant, which was currently reviewing the issue, he said during Question Hour.

Secretaries of the Ministries of Petroleum and Natural Gas, Power and Fertiliser had completed their task of reconciliation on April one and the GoM would meet next month to consider it, he said.

As per government's 1997 decision on the issue, the price of natural gas was linked to that of a basket of international fuel oils and a review was to be undertaken to reach 100 per cent price parity with fuel oils by 2001-02, Naik said, adding the gas price is proposed to be market determined after its deregulation.

Stating that import parity pricing would be advantageous to all LNG projects, he said prices of CNG would depend upon the market price of LNG and natural gas.

Two terminals specifically for import of LNG were being constructed at Dahej (Gujarat) and Kochi (Kerala), Naik added.


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Trucks back on roads, operations normal
New Delhi,Thursday, April 24, 2003: After a 10-day strike, truckers today resumed normal operations throughout the country and began clearing backlogs at ports and various industries.

"All trucks are back on road," a spokesperson of All India Motor Transport Congress (AIMTC), which had given an indefinite nationwide strike call demanding stable fuel prices and fewer levies, said.

Many of the trucks were on roads late Wednesday night after the news of a deal being struck between the Government and AIMTC spread.

AIMTC is the country's largest truckers union with 2.7 million vehicles owners in its fold.

The strike had crippled the nation's delivery network and led to a surge in prices of fruits and vegetables.

The protest had also crippled the industry with two- wheeler maker Kinetic ceasing production at its plant while Hero Honda and Indo Rama had warned that their production would have to be scaled down if the strike did not end soon.

The fear of a halt in production was also voiced by leading car makers Maruti and Hyundai.

"The priority would be to clear the backlog of goods at ports," the spokesperson said.

As per the agreement, retail prices of diesel would be slashed by about Re one per litre while a committee would be set up to examine the quantum of toll to be charged from various types of transport vehicles on the National Highways.

The union's demands include putting an end to frequent hike in diesel prices, immunity from a planned Value Added Tax, repeal of an order to scrap 15-year-old trucks and fixing of minimum freight rates.


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Cell cos fear erosion of base if new STD rates not implemented
New Delhi,Thursday, April 24, 2003: Private cellular operators have asked the telecom regulator to approve the revised tariff packages offering Rs 0.50 per minute STD charges, saying delay in implementation would result in large scale erosion of the base.

"Because of predatory tariff packages of some of the operators which are already available in the market, the subscriber base of cellular operators has already been eroded to a great extent and this continues to erode every day in case we are not allowed to introduce the competitive package in the market," cellular operators said in a letter to TRAI.

Earlier, TRAI had asked leading companies including Bharti, IDEA and Hutch to hold on till it evaluated their tariff packages relating to slashed STD, ISD and air-time charges.

Bharti, Hutch and IDEA had recently cut the airtime on mobile-to-mobile STD calls to just 50 paisa, while it completely waived the airtime for ISD calls.

According to the reply of cellular operators, they said "As we have already provided the justification in our earlier letter that our packages are out of competitive compulsions and still complies with the Interconnect User Charge (IUC) regulations as against the other packages available in the market which do not even comply with the IUC regulations".


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Court directs BCCI to consider Jadeja for Ranji selection
New Delhi,Thursday, April 24, 2003: In what could help his return to grade cricket, the Delhi High Court today directed the Cricket Board to consider all-rounder Ajay Jadeja for selection in Ranji Trophy matches if found eligible in view of the Arbitrator's award in his favour.

A bench comprising Jutice D Bhandari and Justice R S Sodhi issued the order on a petition moved by the cricketer seeking direction to the Board of Control for Cricket in India (BCCI) following the Arbitrator's award given three months ago.

Arbitrator Jutice J K Mehra, who was appointed by the High Court, had given a ruling in Jadeja's favour on the five-year ban imposed on him by the BCCI in the wake of the match-fixing controversy. The award is to become final and binding on April 27.

The court sought reply from the BCCI within two weeks on Jadeja's petition and the matter will come up for hearing on May 19.

The court's direction came after BCCI's counsel Kapil Sibal's submission that Jadeja may be considered for selection if found eligible.


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Tendulkar turns 30 today
New Delhi,Thursday, April 24, 2003: Away from the media glare and the arclights, Indian cricket's favourite son Sachin Ramesh Tendulkar today celebrated his 30th birthday quietly, even as millions of his fans the world over wished him good luck and many more years in internationals cricket.

Tendulkar spent the entire day with his family and close friends at an undisclosed location but a cricket crazy nation paid tribute to the legend who has for long carried the cricketing expectations of billions of fans. At 30, Tendulkar has little to prove in international cricket having shattered one record after another in a career spanning 14 long years but the chronological landmark may only be the beginning of a new batting conquest.

"All I want to do is to go on and on. It's hard to imagine life without cricket," the genius, who has amassed more than 21,000 runs in international cricket, said in a TV interview.

Many accomplished batsmen in the world have flourished after their 30th birthday and bowlers the world over must have started wondering what the little genius has in store for them. In a cricket-driven country which has expected Tendulkar to be at his destructive best everytime he walks onto the field, Tendulkar has been the torch-bearer of Indian cricket and often determined the national mood.


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Star studded teams in a high-profile semi-final
New Delhi,Thursday, April 24, 2003: Buyoed by the return of dashing batsmen Virender Sehwag, Delhi would be looking to get a step closer to their seventh Ranji Trophy title when they take on Tamil Nadu in the semi-finals at the Ferozshah Kotla ground here Friday.

Sehwag, who could not play for Delhi for most of the season due to his national commitments, was one of the three Delhi cricketers to represent the country in the just concluded tri-series in Dhaka, which was jointly won by India and South Africa.

The other two - opener Gautam Gambhir and Sarandeep Singh -- who are in the team for Friday's match, also did fairly well in the triangular tournament.

"We have to play to our potential to beat Delhi on their home ground. We have high regards for players like Sehwag and Gambhir and they have a very good bowling line-up as well," Tamil Nadu captain S Suresh told PTI after a practice session here today.

Though Sehwag had the opportunity to lead the national team in the match against Bangladesh in the absence of Sourav Ganguly, who missed the tie to rest his injured back, he will play here under the captaincy of wicketkeeper Vijay Dahiya, a former international himself.

Despite the presence of a lot of famed cricketers in the side, Delhi are likely to face a tough challenge from Tamil Nadu, who have a few performers in their ranks as well including batting mainstays Sadagopan Ramesh, S Sharath, S Sriram, Hemang Badani and bowler L Balaji.


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Markets
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Sensex: 2937.23, -10.10

The sensex closed at 2937.23, down 10.10
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Forex
 
1  U.S. $ = 47.2600 INR
1  Japanese Yen  = 0.3938 INR
1  British Pound  = 75.2379 INR
1  Canadian $ = 32.2770 INR
1  Singapore $ = 26.5849 INR
1  UAE Dirham = 12.8655 INR
1  Saudi Arabian Riyal = 12.6010 INR
1  Euro = 52.0191 INR
1  Qatar Rial = 12.9789 INR
 
Metals

 
Weather
Temperature : 81 F / 27 C  
 HeatIndex : 86 F / 30 C 
Humidity : 79%
Dew Point : 73 F / 23 C 
Wind : WNW at 7 mph / 11.3 km/h 
Wind Gust - 
Pressure : 29.80 in / 1009 hPa (Steady)
Conditions : Smoke 
Visibility - 
 Clouds (Above Ground Level) : Clear(SKC): - 
  
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